The Board of Directors of Italian insurance giant Generali has elected Philippe Donnet as Managing Director (MD) and Group Chief Executive Officer (CEO) for another three-year term.
At a meeting held yesterday, the Board elected, for the three-year period 2025-2027, Andrea Sironi as Chairman and Donnet as MD and CEO, who was confirmed in the previous delegations of powers, in the role of Director in charge of the internal control and risk management system and was also appointed as Director responsible for Anti-Money Laundering.
Additionally, the Nominations and Corporate Governance Committee was also established by the Board of Directors. Sironi was appointed as Chairman, and Marina Brogi, Clara Furse, Patricia Estany Puig, and Luisa Torchia were named as members of the committee.
This Committee will propose the composition of the other internal board committees at a forthcoming board meeting.
Giuseppe Catalano was also confirmed as Secretary of the Board of Directors. According to the announcement, his appointment is subject to positive verification of the possession of the requirements by the Nominations and Corporate Governance Committee.
The insurer has also commented on recent news that Milan-based Mediobanca, who holds a 13% stake in Generali, has reportedly made a bid to acquire Banca Generali.
Generali stated: “The Board of Directors has acknowledged the communication made today by Mediobanca – Banca di Credito Finanziario S.p.A. regarding a public exchange offer promoted on all the shares of Banca Generali S.p.A.: this communication was not discussed during today’s meeting. Any assessment in this regard will be made in the appropriate manner and timeframe.”
